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- What happens to the mulitiplier as the MPC fallsSuppose the large number of bike accidents in a small town results in new legislation that requires all citizens of the town to wear specialized bike helmets when riding. These new helmets reduce the probability of head trauma by 25% during a bike accident. While the new helmets the probability of a serious head injury resulting from a bike accident, they also incentivize cyclists to ride safely, which could the number of bike accidents and thus head injuries to cyclists.Which chain of events is an expected occurrence in the market and, in addition, occurs in the correct order?(x) Demand decreases, price decreases, quantity supplied decreases.(y) Supply increases, price decreases, quantity demanded increases(z) Supply decreases, price increases, quantity demanded increases.A. (x), (y) and (z) B. (x) and (y) onlyC. (x) and (z) only D. (y) and (z) onlyE. (x) only
- Given the scatter diagram in Figure 8-1, what is the MPC (your best estimate)? a. 1 b. 2/3 c. 1/2 d. 1/3 I know the answer of this question answer is 2/3 but can you please give the explanation how 2/3 is the answer of the problemThe demand equation for the Widget Company has been estimated to be: Q = 20,000 + 10 I - 50P + 20 PC where Q = monthly number of widgets sold, I = average monthly income, P = price of widgets, and PC = average price of competing goods. If next month's income is forecast to be 2,000, the price of competing goods is forecast to be $20, and the price of widgets will be set at $30, forecast sales. b. What will sales be if the price is dropped to $20?Examine the following statement and determine the accuracy of the statement. Cars are considered as luxury items. Thus, a decrease in the consumer's income would result in a decrease in the demand for cars. Consumer income will affect the demand for a product. The future expectancy of a product will affect the demand for the product. Future expectancy not only encompasses the future price of a product but also other factors that will affect the demand for product such as advancement in technology and government policy.
- An overheated economy is most likely to result in:A printer manufacturer estimates that the average purchaser of a printer will also purchase six ink refills over the lifetime of the printer. The relevant data are: Printer: price: $400, margin: $100 Refills: price: $40, margin: $30 The manufacturer is considering increasing the price of printers by 10% to $440. What volume decrease in the sales of printers is the stay-even sales change for the firm? (Ignore the issue of discounting the value of future ink refill sales. Imagine, for example, that all six are purchased upfront with the printer). A. 11.5% B. 12.5% C. 13.5% D. 14.5% Use = % Q = (Pold - Cold)/(Pnew - Cold) - 1What is meant by the tetm "random walk "? Under what conditions will consumption function follow such a behaviour?
- the economic reason for which consumption decisions are graphically represented as a straight line and production decisions are graphically represented as a curve.Assume that consumption when young and consumption when old are both normal goods. The income effect of an increase in the interest rate will result in Group of answer choices an increase in saving when young. an increase in saving when old. a decrease in saving when young. a decrease in saving when old.Explain sustainablity with an examples.